Market Update

Minneapolis Federal Reserve President Neel Kashkari said noted on Tuesday that he is feeling good about the progress on inflation but added that it was still too high, per Reuters.“The question is, have we done enough, or do we need to do more,” Kashkari added said that they have been …

The UK unemployment rate rose to 4.2% in the second quarter of 2023, the highest level since late 2021 and above market expectations and the previous level of 4%. This rise was supported by the number of unemployed persons for a period of up to 6 months. The rate of …

According to the German ZEW headline figure, the Economic Sentiment Index improved to -12.3 in August from -14.7 in July. This number was higher than the -14.4 predicted by the market. Similarly, the Eurozone Economic Sentiment Index increased to -5.5 from -12.2 during the same period. On the negative side, …

European stocks opened slightly lower on Tuesday, as declines in real estate stocks amid higher bond yields offset gains in retail stocks, led by British department store Marks & Spencer, which raised its profit forecasts. And by 0720 GMT, the European Stoxx 600 index fell 0.1 percent, with real estate …

Russia’s central bank raised interest rates by 350 basis points, to 12 percent, on Tuesday, in an emergency move aimed at trying to halt the ruble’s slide below 100 against the dollar after the Kremlin’s public call for tightening monetary policy. The convening of the extraordinary meeting of the Central …

japanese-yen

The US Dollar Index closed over 103.15, marking its highest daily close in almost a month. It did, however, finish well below the intraday high, indicating that it may consolidate over the coming hours.US Treasury yields continue to provide a significant support for the dollar. Both the 10-year yield and …

Following an optimistic note from Morgan Stanley, shares of chipmaker Nvidia rose, helping the S&P 500 and Nasdaq close higher. As investors awaited the earnings results from US retailers, this caused other Megacap growth stocks to increase. The information technology index increased thanks to Nvidia’s gain, making it the strongest …

The EUR/GBP pair has declined for a second consecutive day, falling towards 0.8605. The Eurozone’s preliminary Q2 GDP report is set to be released on Wednesday, and no relevant data releases will feature on Monday’s economic calendar. The Office for National Statistics will release key labour market data on Tuesday, …

Because of the US dollar’s strength and surging US Treasury bond yields, the price of gold has continued to perform worse. Because of higher rental prices, inflation increased steadily at a rate of 0.2% in July. In September, the Fed is anticipated to leave interest rates steady. The precious metal …